TD Makes Biggest Ever Purchase With $13.4 Billion Deal For First...
In order to expand its footprint in the southeastern United States, Toronto-Dominion Bank Group will buy First Horizon Corp for $13.4 billion in cash, betting on rapid population growth in the region with its record acquisition...
Regulatory Scrutiny Mounts For Chinese Stocks Listed In The U.S.
Chinese internet platform companies with more than one million users will have to get government approval before listing overseas, following the country’s Cyberspace Administration’s (CAC) issuing of new rules earlier this month. To stay public beyond the U.S., if regulation here forces companies to delist from New York...
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Chip Maker AMD Is Optimistic About Xilinx Purchase
Chip giant AMD expects its $35 billion acquisition of Xilinx will be good for business. Following the deal’s close in early February, CEO Dr. Lisa Su said that buying the San Jose-based semiconductor manufacturing company would help AMD grow past its competition by 20%...
Frontier And Spirit Airlines To Merge In $2.9 Billion Deal
Frontier Group Holdings and Spirit Airlines Inc. announced plans in early February for a $2.9 billion deal that would create a new – and big – frills-free budget carrier. The merger, which would form the fifth-largest airline in the U.S., would give Colorado-based Frontier control of the company with a 51.5% stake in the new entity...
World’s Largest ETF Takes Nearly $7 billion Hit Amid January’s Market...
The world’s largest exchange-traded fund, S&P 500 ETF Trust, which trades by the ticker “SPY,” lost almost $7 billion in investments the last day of January alone and was down over 6% for the month. Popular with investors, SPY tracks the S&P 500 Index, which has lost over 5% of its value in 2022...
Quant-Focused Renaissance Technologies Sees $15B In Outflows
Although quant-focused hedge fund Renaissance Technologies saw double-digit returns last year, it also experienced almost $15 million in outflows over the past 14 months. Renaissance is a $100 million powerhouse due to its overperforming Medallion fund, which is open exclusively to current and former company employees...
J.P. Morgan Converts $10B In Mutual Funds To ETFs
Finance heavyweight J.P. Morgan is jumping headlong into the exchange-traded fund (ETF) space, to the tune of nearly $10 billion. The firm is due to commence its conversion of four of its mutual funds to ETFs in April...
ETFs Drive BlackRock To Reach Record $10 Trillion In Assets.
Thanks to a boom of fourth-quarter flows into its exchange-traded funds (ETF), multinational investment management firm BlackRock has become the first public asset manager to reach the milestone of $10 trillion in assets. The record-breaking three months at the tail end of 2021 saw investors put a net $104 billion in Blackrock's ETFs...
Bridgewater Names New Co-CEOs As David McCormack Steps Down To Pursue...
Bridgewater, the investment firm founded by billionaire innovator Ray Dalio, is returning to its previous dual-chief-executive business model as current CEO David McCormick pursues political office in Pennsylvania. While McCormick prepares for a campaign for Pennsylvania state Senator, Bridgewater has named Nir Bar Dea...
Gold And Related ETFs Experience Biggest Loss In Years Amid Record...
Despite ending the year with a modest gain, in 2021 gold experienced the steepest year-over-year drop since 2015, signaling a lack of interest by investors amid the largest inflationary rise in nearly 40 years. Data from the world's biggest gold-backed ETF, SPDR Gold Shares (GLD), reflected the trend with its largest outflow in a decade...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...